Jefferies Group Weighs in on Prothena Corporation PLC’s FY2017 Earnings (PRTA)

Prothena Corporation PLC (NASDAQ:PRTA) – Analysts at Jefferies Group upped their FY2017 earnings estimates for Prothena Corporation PLC in a research report issued on Tuesday. Jefferies Group analyst M. Yee now anticipates that the biotechnology company will post earnings of ($4.20) per share for the year, up from their prior estimate of ($4.80). Jefferies Group currently has a “Buy” rating and a $100.00 target price on the stock. Jefferies Group also issued estimates for Prothena Corporation PLC’s Q4 2017 earnings at ($1.36) EPS, Q1 2018 earnings at ($1.49) EPS, Q2 2018 earnings at ($1.60) EPS, Q3 2018 earnings at ($1.55) EPS, Q4 2018 earnings at ($1.61) EPS and FY2018 earnings at ($6.26) EPS.

Prothena Corporation PLC (NASDAQ:PRTA) last issued its earnings results on Tuesday, November 7th. The biotechnology company reported ($1.37) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.41) by $0.04. The business had revenue of $0.19 million for the quarter, compared to the consensus estimate of $0.28 million. Prothena Corporation PLC had a negative net margin of 562.19% and a negative return on equity of 34.34%. The business’s quarterly revenue was down 33.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.26) earnings per share.

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Other analysts also recently issued research reports about the stock. Evercore ISI assumed coverage on shares of Prothena Corporation PLC in a report on Wednesday, August 16th. They issued an “outperform” rating and a $83.00 target price on the stock. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $70.00 target price on shares of Prothena Corporation PLC in a report on Thursday. Royal Bank Of Canada assumed coverage on shares of Prothena Corporation PLC in a report on Thursday, September 14th. They issued an “outperform” rating and a $87.00 target price on the stock. BTIG Research lowered their target price on shares of Prothena Corporation PLC from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, September 29th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $75.00 target price on shares of Prothena Corporation PLC in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $78.58.

Shares of Prothena Corporation PLC (NASDAQ PRTA) opened at $56.63 on Friday. Prothena Corporation PLC has a fifty-two week low of $45.13 and a fifty-two week high of $70.00.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its position in Prothena Corporation PLC by 1.2% during the first quarter. Principal Financial Group Inc. now owns 6,528 shares of the biotechnology company’s stock worth $364,000 after acquiring an additional 77 shares during the last quarter. Vanguard Group Inc. raised its position in Prothena Corporation PLC by 16.2% during the first quarter. Vanguard Group Inc. now owns 699,858 shares of the biotechnology company’s stock worth $39,045,000 after acquiring an additional 97,631 shares during the last quarter. Geode Capital Management LLC raised its position in Prothena Corporation PLC by 13.4% during the first quarter. Geode Capital Management LLC now owns 319,139 shares of the biotechnology company’s stock worth $17,804,000 after acquiring an additional 37,801 shares during the last quarter. BlackRock Inc. raised its position in Prothena Corporation PLC by 95,458.7% during the first quarter. BlackRock Inc. now owns 2,733,934 shares of the biotechnology company’s stock worth $152,526,000 after acquiring an additional 2,731,073 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Prothena Corporation PLC by 12.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 153,857 shares of the biotechnology company’s stock worth $8,584,000 after acquiring an additional 16,665 shares during the last quarter.

In related news, insider Tara Nickerson sold 17,500 shares of the firm’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $63.60, for a total value of $1,113,000.00. Following the completion of the sale, the insider now owns 19,500 shares in the company, valued at $1,240,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher S. Henney sold 900 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $70.00, for a total transaction of $63,000.00. Following the completion of the sale, the director now owns 900 shares of the company’s stock, valued at approximately $63,000. The disclosure for this sale can be found here. Insiders sold 29,424 shares of company stock valued at $1,922,787 in the last quarter. Company insiders own 3.10% of the company’s stock.

Prothena Corporation PLC Company Profile

Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).

Earnings History and Estimates for Prothena Corporation PLC (NASDAQ:PRTA)

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